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Cours Or & Argent

Lara Exploration Ltd.

Publié le 20 mai 2014

Lara Signs Heads of Agreement to Sell Phosphate and Coal Interests

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Mots clés associés :   Canada |

Lara Signs Heads of Agreement to Sell Phosphate and Coal Interests

VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) - Lara Exploration Ltd. (TSX VENTURE:LRA) ("Lara" or the "Company") is pleased to report that Lara and its partner Kiwanda Mines LLC ("Kiwanda") have signed a Heads of Agreement to sell certain rights and options held by their Phosphate Alliance and Coal Alliance to Australian Securities Exchange listed Phillips River Mining Limited ("Phillips River"). Lara understands that Kiwanda already owns 19.9% of Phillips River and, subject to completion of the proposed transaction and a related financing, intends to use Phillips River as the vehicle to pursue its interests formerly held by the two Alliances.

Under the terms of the agreement, Phillips River will acquire the following assets and options:

  1. Lara's 19.9% interest in central Colombian coal producer Carbhid S.A.

  2. The Coal Alliance's option to earn a 51% interest in Escalones mining rights owned and operated by Carbhid.

  3. The Coal Alliance's option to earn up to a 75% interest in the Pelaya coal property in northern Colombia (the remaining 25% will remain held by Lara).

  4. The Phosphate Alliance's option to acquire a 75% interest in the Bifox phosphate mining rights in northern Chile (the remaining 25% will remain held by Lara).

  5. The option to earn a 75% interest in the Ki phosphate exploration rights adjacent to the Bifox mining rights (the remaining 25% will remain held by Lara).

For the coal assets, Phillips River will pay an amount determined by an independent valuation which, after deduction of an initial $450,000 payment to Lara, will be satisfied by the issuance of shares of Phillips River (split 75% to Kiwanda and 25% to Lara) at a deemed price of A$ 0.20 each. Of such shares, 60% will be paid on closing and the remaining 40% will be paid on achievement of production and resource establishment milestones. The amount payable for the phosphate assets will also be determined by an independent valuation, the first 50% of which will be paid on closing and the remaining 50% of which will be paid on achievement of production and resource establishment milestones. Phillips River has also agreed to reimburse Lara $770,000 (inclusive of the foregoing $450,000) of the costs incurred by Lara in acquiring and maintaining these interests, with $200,000 paid on signing of the Heads of Agreement and the remainder upon closing the transaction. Phillips River will also assume the day-to-day costs of these assets, effective immediately. Finally, Lara will have the right to appoint one of the six directors comprising Phillips River's board of directors.

Under the terms of the Alliance Agreements between Kiwanda and Lara and which, as to Kiwanda's interests, will be assumed by Phillips River, the Pelaya coal property, the Bifox phosphate property and the Ki phosphate property will become Designated Projects, whereby Phillips River will invest, in each project, US$5 million over a four-year period (US$ 1 million of which is a firm commitment) in exploration and development to raise its interest to 65%. Phillips River may then raise its interest to a total of 75% by delivering a Feasibility Study as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators within a further two years (subject to spending a minimum of US$ 2 million per year).

About Lara

Lara is an exploration company following the Prospect Generator business model, which aims to minimize shareholder dilution and financial risk by generating prospects and then exploring them in joint ventures funded by partners. The Company currently holds a diverse portfolio of prospects and deposits in Brazil, Peru, Colombia and Chile. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Lire la suite de l'article sur finance.yahoo.com
Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Lara Exploration Ltd.

EXPLORATEUR
CODE : LRA.V
ISIN : CA5166831092
Suivi et investissement
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Lara Expl. est une société d’exploration minière d'argent et d'or basée au Canada.

Lara Expl. détient divers projets d'exploration au Bresil.

Ses principaux projets en exploration sont CAMPOS VERDES, SÃO LOURENÇO, CURIONOPOLIS, CONCEICAO BRAZIL, ARAGUAIA, CANABRAVA et LIBERTADE BRAZIL au Bresil et LARA COPPER, PICHA et LAMPA au Perou.

Lara Expl. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 37,6 millions CA$ (27,7 millions US$, 24,9 millions €).

La valeur de son action a atteint son plus haut niveau récent le 29 décembre 2006 à 2,14 CA$, et son plus bas niveau récent le 07 août 2015 à 0,20 CA$.

Lara Expl. possède 34 210 000 actions en circulation.

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Rapports annuels de Lara Exploration Ltd.
2008 Annual report
Projets de Lara Exploration Ltd.
15/10/2013(Curionopolis)Agreement Signed for Development of the Curionopolis Copper ...
07/02/2013(Picha)Drill Permit Granted for the Picha Copper-Silver Project in ...
08/04/2011(Curionopolis)Progress Report on the Curionopolis Iron Project in Brazil
07/03/2011(Libertade Brazil)Codelco Intercepts Copper on Lara's Liberdade Project in Bra...
22/02/2011(Lara Copper)Intercepts 40 Metres with 1.39% Copper at the Lara Project i...
14/02/2011(Conceicao Brazil)Reports Platinum and Palladium Values From Its Conceicao Nic...
24/01/2011(Curionopolis)Additional Royalty Negotiated for the Curionopolis Iron Ore ...
04/11/2009(Curionopolis)Starts Curionópolis Drill Program
28/09/2009(São Lourenço)Independent Review and Technical Report Completed on São Lou...
Communiqués de Presse de Lara Exploration Ltd.
02/08/2016Picha Copper Project Sold to Carajas Copper
11/07/2016Lara Exploration Increases Private Placement to $3,000,000
05/07/2016Lara Exploration to Raise Up to $2 Million by Private Placem...
21/06/2016Lara's Grace Option Agreement With Apumayo Extended
06/06/2016Lara Reports New Exploration Licenses Issued for the Planalt...
27/05/2016Lara Exploration Ltd.: Corporate Update
12/05/2016Lara Exploration Announces That the Company has Fully Disclo...
23/03/2016Lara Signs Option to Acquire Serrita Gold Project in Brazil
02/02/2016Revised Resource Estimate Report Filed for Maravaia Copper G...
01/02/2016Lara to Acquire the Tocantins Gold Project in Brazil
21/12/2015Lara Reports Progress of Development and Construction at the...
26/10/2015Lara Signs Option to Acquire the Azul Tin Project in Brazil
31/08/2015Lara Exploration to Commence at Ki Phosphate Project in Chil...
26/08/2015Lara Exploration Ltd.: Colombia Phosphate Alliance Agreed Wi...
27/07/2015Lara Exploration Ltd.: Granting of Incentive Stock Options
23/06/2015Lara Files for Arbitration of the Vertical Iron Agreement in...
15/12/2014Lara and Goldplata Agree to Create New Copper Porphyry Explo...
04/11/2014Lara Amends Option Agreement for Its Caninde Graphite Projec...
15/10/2014Lara Signs Definitive Agreement to Sell Phosphate and Coal I...
24/09/2014Lara Signs Option Agreement for its Canindé Graphite Project...
29/07/2014Definitive Agreement Signed for Sale of Corina Project to Mi...
02/07/2014Focus Graphite Relinquishes Caninde Option
23/06/2014Lara Signs Letter of Intent to Sell Corina Project in Peru t...
20/05/2014Lara Signs Heads of Agreement to Sell Phosphate and Coal Int...
29/04/2014Lara Exploration Ltd.: Antofagasta Relinquishes Sami Option
28/04/2014Lara Adopts Advance Notice Policy and Appoints New President
07/10/2013Codelco Expands Mineralized Footprint at Liberdade Cu-Au Dis...
16/07/2013Exploration Joint Venture and Portfolio Update
10/07/2013Agrees Sale of Grace Gold Project to Aruntani S.A.C.
26/06/2013Options Sami Property to Antofagasta
21/05/2013Drilling Restarts at Liberdade in Northern Brazil
20/03/2013Agrees to Terms of Sami Option with Antofagasta
25/02/2013Signs Option to Acquire the Planalto Copper Project in North...
20/02/2013to Acquire Shares of Carbhid Coal
04/02/2013Malbex Relinquishes Option on the Grace Gold Project in Peru
21/01/2013Secures Renewals for the Sergipe Potash Licenses
14/01/2013Agreement Completed with Focus Graphite on Lara's Caninde Pr...
14/11/2012Bahia Inglesa Phosphate Acquisitions, Chile
22/10/2012Successful Completion of $5.0 Million Private Placement
11/10/2012Options the Chocos Polymetallic Project in Peru to CJL Capit...
27/09/2012and Antofagasta form Strategic Alliance to Explore for Coppe...
18/09/2012to Raise up to $3 Million by Private Placement
17/09/2012Codelco Mobilizes Drilling on the Liberdade Copper Project i...
10/09/2012Avanco Mobilizes Drilling on the Conceição Nickel Sulphide P...
08/07/2011Issuance of Bonus Shares And Implentation of Stock Grant Pro...
24/05/2011(Canabrava)Drill Program Started at Canabrava in Central Brazil
26/04/2011New Zone of Mineralization Found on the Tingo Este Copper Pr...
22/02/2011Corporate Update
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TSX-V (LRA.V)OTHER OTC (LRAXF)
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